LONDON and TORONTO, June 20, 2017 /PRNewswire/ --
Finastra today announced that it is partnering with SIA, European leader in payment infrastructures and services, to provide real-time payment capabilities to financial institutions operating all over Europe. This will enable financial institutions to use the Finastra (formerly D+H) payments solutions to connect via SIAnet to RT1, EBA CLEARING's pan-European instant payments infrastructure.
Prior to EBA CLEARING's platform going live in November 2017, financial institutions will be able to experiment with real-time payments on the Finastra cloud-based testing environment. This environment will provide simulated connectivity to EBA CLEARING's RT1, and enable banks adhering to the SCT Inst Scheme to test instant payments quickly, easily and with low risk.
"The collaboration with Finastra allows us to strengthen our path of innovation, supporting the access and onboarding of the banks on EBA CLEARING's pan-European instant payments infrastructure," said Andrea Galeazzi, Network Services Director SIA. "Financial institutions can now easily benefit from the high-speed, low-latency network infrastructure SIANet thanks to its reliability, solidity and security."
"The Finastra payments technology already supports the processing of millions of faster payment transactions throughout the world every day," said Moti Porath, Head, Product Management, Global Payments Solutions, Finastra. "SIA shares the Finastra vision of making faster payments a reality, and we are proud to expand our client's access to instant payments and instant clearing in Europe through SIAnet."
Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today-spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location-from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world's top 50 banks use Finastra technology.
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